elliotn
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Post by elliotn on Dec 8, 2017 15:37:58 GMT
Can anyone explain what this means:- (On current stats, loans have been repaid late by an average eight days, and where loans have been repaid late, the average is 84 days.) Overall, loans have been repaid just over one week late. This includes early redemptions. Of the loans that were repaid late, the average has been 84 days overdue.
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elliotn
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Post by elliotn on Dec 7, 2017 15:18:02 GMT
Proplend also read this forum so be careful about publicly abusing their introductory offer.
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elliotn
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Post by elliotn on Dec 7, 2017 15:14:56 GMT
The sponsor has to give their real name (ie you know the person) so might not appeal to all users here.
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elliotn
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Post by elliotn on Dec 6, 2017 12:43:53 GMT
Loan repayments' tab.
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elliotn
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Post by elliotn on Dec 6, 2017 7:22:58 GMT
Have just noticed that the interest due on this loan was credited to accounts on 2nd December - so there are no longer any arrears. Perhaps MT should add this to the Support page as it is good news. best wishes, to all investors, SXLR Problem is, we have no way of knowing whether MT funded this themselves (as they tend to do on non-defaulted loans that are in arrears) or whether it came from the borrower. In the absence of a positive confirmation from MT that the arrears have been cleared by the borrower, I'd assume it was funded by MT themselves. Potential SM purchasers should perhaps contact MT directly to establish the current position. Agreed. Since MoneyThing 's preferred model is servicing by borrower (or even the platform) a Repayments' tab is essential for investor transparency - we certainly should not find out from another platform first that our loan is in default - once The Shuang has finished his ISA magic, of course.
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elliotn
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Post by elliotn on Dec 5, 2017 17:23:18 GMT
Update 05/12/2017 The valuation came in at £107,000. The borrower has advised that he is refinancing this loan with another lender which we expect to be completed by the 15th December. <TIC> Looking forward to the accrued bonus What is rate of Coll accrual bonus?
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elliotn
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Post by elliotn on Dec 5, 2017 10:54:20 GMT
Thanks, are there any details available yet? Hi elliottm, Please see earlier threads above for preliminary details - full details will be made available once the loan goes live. Regards, Filip Thanks, Proplend are launching at the same time with a full suite of due diligence published prior to go live so I will wait for the next opportunity.
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elliotn
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Post by elliotn on Dec 5, 2017 8:31:40 GMT
Could we have a fixed launch time please?
I assume I am not alone in being unable to spend up to two hours sitting around in the middle of the day on the off chance a loan launches.
Hi applets, We'll make it available for investment 11am. Regards, Filip Thanks, are there any details available yet?
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elliotn
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Post by elliotn on Dec 5, 2017 2:11:24 GMT
Still, from the perspective of any Huddle 100 investors out there, I think I speak for us all when I congratulate Huddle on the bombastic undoubted success of their platform to date, with the resounding financial stability of it underpinning the forthcoming prompt release of our commitment to keep bonus funds on the platform for 6 months.. (which, incidentally,expires next month ) Hopefully you've kept that as funds on account rather than anticipating on keeping that intact via the SM .
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elliotn
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Post by elliotn on Dec 4, 2017 4:17:17 GMT
Hi all I've actually been investing in Lendy for a couple of years now - only a couple of thousand at a time - but I'm slightly ashamed to say I don't understand every element of the website, and don't find its explanations easy to follow (I'm new to investing). So, quick question: When a loan has a minus number next to the number of days left, do you still accrue interest on that loan? I don't think you do, but just checking. If you don't, then is the idea that you sell that loanpart before it runs out if you can? (of course this might not be successful). Any elaboration on this matter would be most appreciated! Best wishes JSure the others answered, interest accrues (IA status) after loan repayment due date for a tolerance period of 180 days (unless the credit committee deem recoverabilty materially impaired before this). There is also a bonus accrual running at half the monthly interest rate for this period to compensate for the additional risk (only payable if you hold the loan part when the loan redeems overdue, interest can be caught up with extensions to positive days interest paid). Order of priority for repayment of overdue loans is capital, accrued interest and then the bonus; any shortfall on sale might be recovered by guarantees or debentures etc depending on supplementary security although this might not be a quick outcome. The provision fund is discretionary and may not be able to cover all shortfalls. Lots of faq on the website that you should take the time to read to understand the risks.
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elliotn
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Post by elliotn on Dec 2, 2017 11:05:25 GMT
A gambler would bet on MT, Unbolted* and then agonise over LI/AO (perhaps edging towards AO for diversification from MT property). A gentleman would never tell. * Ssshhhhhh As vote is now closed I can reveal it was MoneyThing, Archover and Unbolted. I hope you did the lottery that day. I only have two loans left on LendInvest. A fine, discerning and diversified choice, sir! (same for me on LI too).
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elliotn
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Post by elliotn on Dec 2, 2017 7:06:15 GMT
If MT were not as confident about this borrower/security there is a chance that the second month of non-payment could have taken this loan directly to Default without any previous indication that it was a non-performing loan.
The lack of transparency regarding missed payments means MT runs at about half my other platforms which have clear RAG payment or remaining interest data.
Edit - as MT prefer loans to be serviced monthly instead of by retained interest to protect the LTV, no income information on debt servicing cover (with regular covenant updates) is another key omission for this MO.
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elliotn
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Post by elliotn on Dec 2, 2017 6:01:01 GMT
Proplend, I was very pleased to see the Burton-upon-Trent offices loan go 'live' today because, quite frankly, I've struggled to invest on your platform. The combination of dearth of loans, needing to have funds deposited on the platform and the speed with which loans sell out means I've had money sitting around doing nothing. Even with my offer having been accepted, my investment will earn no interest until funding is drawn down. Are there any plans for your platform to become more 'investor-friendly'? Brian In short, yes. You will now earn 0.2% on that available balance - an industry first 😊 .
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elliotn
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Post by elliotn on Dec 1, 2017 16:00:39 GMT
Hi All I've just added an update on this loan on the platform. Kind regards Sophie Thanks for the pointer. 2nd month of non-payment is quite substantial - one week should be enough to confirm non-payment is not a technical discrepancy - but a good update and enough on SM should I decide to buy in after selling yesterday in anticipation of this payment default.
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elliotn
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Post by elliotn on Dec 1, 2017 15:44:57 GMT
I had two browsers open and managed to get 8 altogether which even involved one logout and one log back in. Three on my account; four on my son's and one for my son-in-law - no favouritism, just the luck of the draw. Were these separate accounts operated by the same person?
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